The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
1st Source Corporation COM 336901103 225 7,000 SH   SOLE   0 0 7,000
3M Company COM 88579y101 1,738 12,809 SH   SOLE   0 0 12,809
AER Energy Resources Inc COM 000944207 0 5,000,000 SH   SOLE   0 0 5,000,000
AT&T, Inc. COM 00206R102 6,532 186,256 SH   SOLE   0 0 186,256
AbbVie, Inc. COM 00287y109 484 9,418 SH   SOLE   0 0 9,418
Abbott Laboratories COM 002824100 358 9,298 SH   SOLE   0 0 9,298
Accenture Ltd COM g1151c101 16,435 206,157 SH   SOLE   0 0 206,157
AllState Corp. COM 020002101 417 7,375 SH   SOLE   0 0 7,375
Altria Group, Inc. COM 02209s103 2,235 59,715 SH   SOLE   0 0 59,715
Amazon.Com COM 023135106 3,123 9,284 SH   SOLE   0 0 9,284
American Airlines Grp COM 02376R102 220 6,000 SH   SOLE   0 0 6,000
American Express Co. COM 025816109 864 9,601 SH   SOLE   0 0 9,601
American Int'l Group COM 026874784 718 14,356 SH   SOLE   0 0 14,356
Amgen Inc. COM 031162100 2,502 20,282 SH   SOLE   0 0 20,282
Apache Corp. COM 037411105 10,247 123,526 SH   SOLE   0 0 123,526
Apple Computer COM 037833100 12,229 22,785 SH   SOLE   0 0 22,785
Automatic Data Processing COM 053015103 407 5,266 SH   SOLE   0 0 5,266
Banco LatinoAmericano COM P16994132 19,720 746,682 SH   SOLE   0 0 746,682
BankAmerica Corp. COM 060505104 255 14,851 SH   SOLE   0 0 14,851
Berkshire Hathaway 'A' COM 084670108 937 5 SH   SOLE   0 0 5
Berkshire Hathaway 'B' COM 084670702 250 2,000 SH   SOLE   0 0 2,000
Berkshire Hathaway 'B' COM 084670702 75,682 605,604 SH   SOLE   0 0 605,604
Boardwalk Pipeline Prtnrs LP COM 096627104 5,934 442,500 SH   SOLE   0 0 442,500
Bristol Myers Squibb COM 110122108 1,986 38,236 SH   SOLE   0 0 38,236
Brookdale Sr Living Inc COM 112463104 6,562 195,824 SH   SOLE   0 0 195,824
Brookfield Pptys Part COM G16249107 318 17,000 SH   SOLE   0 0 17,000
Campbell Soup Co. COM 134429109 5,094 113,500 SH   SOLE   0 0 113,500
Caterpillar Inc. COM 149123101 7,711 77,594 SH   SOLE   0 0 77,594
Celgene Corp. COM 151020104 218 1,565 SH   SOLE   0 0 1,565
Chesapeake Energy COM 165167107 15,331 598,406 SH   SOLE   0 0 598,406
Chevron Corp. COM 166764100 2,342 19,693 SH   SOLE   0 0 19,693
Cisco Systems Inc. COM 17275R102 4,331 193,210 SH   SOLE   0 0 193,210
Coca Cola Co. COM 191216100 3,121 80,737 SH   SOLE   0 0 80,737
Colgate Palmolive Co. COM 194162103 219 3,378 SH   SOLE   0 0 3,378
Comcast Corp. Special Class A COM 20030n200 1,157 23,730 SH   SOLE   0 0 23,730
Computer Sciences Corp. COM 205363104 1,313 21,580 SH   SOLE   0 0 21,580
ConocoPhillips COM 20825c104 390 5,548 SH   SOLE   0 0 5,548
Corrections Corp Amer COM 22025y407 28,122 897,884 SH   SOLE   0 0 897,884
Covidien Ltd COM g2554f113 315 4,279 SH   SOLE   0 0 4,279
DIRECTV COM 25490a309 1,908 24,967 SH   SOLE   0 0 24,967
Darden Restaurants, Inc. COM 237194105 254 5,000 SH   SOLE   0 0 5,000
Dentsply Intl Inc COM 249030107 1,734 37,669 SH   SOLE   0 0 37,669
Diageo PLC COM 25243Q205 259 2,075 SH   SOLE   0 0 2,075
Dominion Resources, Inc. COM 25746u109 1,548 21,811 SH   SOLE   0 0 21,811
Duke Energy Corp. COM 26441c204 4,522 63,492 SH   SOLE   0 0 63,492
E. I. Dupont de Nemours & Co. COM 263534109 305 4,543 SH   SOLE   0 0 4,543
Express Scripts, Inc. COM 30219g108 1,633 21,744 SH   SOLE   0 0 21,744
Exxon Mobil Corp. COM 30231G102 16,630 170,246 SH   SOLE   0 0 170,246
Fairfax Financial Hld COM 303901102 71,996 166,233 SH   SOLE   0 0 166,233
FedEx Corp. COM 31428X106 5,903 44,530 SH   SOLE   0 0 44,530
First Horizon Nat'l COM 320517105 129 10,474 SH   SOLE   0 0 10,474
Forestar Group COM 346233109 489 27,500 SH   SOLE   0 0 27,500
Freeport McMoran Copper & Gold COM 35671D857 1,186 35,870 SH   SOLE   0 0 35,870
Gannett Co. Inc. COM 364730101 17,262 625,430 SH   SOLE   0 0 625,430
General Electric Co. COM 369604103 8,744 337,731 SH   SOLE   0 0 337,731
General Mills Inc. COM 370334104 1,633 31,507 SH   SOLE   0 0 31,507
Google Inc. Class C COM 38259P706 902 809 SH   SOLE   0 0 809
Graham Holdings Co COM 384637104 1,642 2,333 SH   SOLE   0 0 2,333
HCA Holdings, Inc. COM 40412C101 36,912 703,091 SH   SOLE   0 0 703,091
HCC Ins Hldgs COM 404132102 6,632 145,787 SH   SOLE   0 0 145,787
HCP Inc COM 40414L109 6,174 159,160 SH   SOLE   0 0 159,160
Halliburton Inc. COM 406216101 9,800 166,419 SH   SOLE   0 0 166,419
HealthStream Inc. COM 42222n103 363 13,600 SH   SOLE   0 0 13,600
Hewlett Packard Co. COM 428236103 442 13,645 SH   SOLE   0 0 13,645
Home Depot Inc. COM 437076102 5,756 72,738 SH   SOLE   0 0 72,738
Honeywell Intl. COM 438516106 882 9,511 SH   SOLE   0 0 9,511
Horsehead Holding COM 440694305 622 37,000 SH   SOLE   0 0 37,000
Intel Corp. COM 458140100 7,740 299,849 SH   SOLE   0 0 299,849
International Business Machine COM 459200101 10,616 55,153 SH   SOLE   0 0 55,153
J. P. Morgan Chase & Co. Inc. COM 46625h100 689 11,352 SH   SOLE   0 0 11,352
Johnson & Johnson COM 478160104 11,409 116,148 SH   SOLE   0 0 116,148
Kraft Foods Group, Inc. COM 50076q106 1,366 24,356 SH   SOLE   0 0 24,356
L-3 Communications COM 502424104 408 3,450 SH   SOLE   0 0 3,450
Leucadia Natl Corp COM 527288104 1,506 53,800 SH   SOLE   0 0 53,800
Level 3 Commun COM 52729N308 22,362 571,333 SH   SOLE   0 0 571,333
Liberty Media Corp. COM 531229102 315 2,406 SH   SOLE   0 0 2,406
LinnCo, LLC COM 535782106 6,635 245,279 SH   SOLE   0 0 245,279
Loews Corp. COM 540424108 18,840 427,702 SH   SOLE   0 0 427,702
Lowes Companies COM 548661107 5,129 104,884 SH   SOLE   0 0 104,884
McCormick COM 579780206 1,112 15,500 SH   SOLE   0 0 15,500
McDonalds Corp. COM 580135101 3,223 32,874 SH   SOLE   0 0 32,874
Mead Johnson Nutrition COM 582839106 447 5,381 SH   SOLE   0 0 5,381
Medtronic Inc. COM 585055106 3,821 62,084 SH   SOLE   0 0 62,084
Merck & Company Inc. COM 58933y105 6,268 110,414 SH   SOLE   0 0 110,414
Microsoft Corp. COM 594918104 4,245 103,573 SH   SOLE   0 0 103,573
Mondelez Int'l Inc COM 609207105 9,906 286,705 SH   SOLE   0 0 286,705
Morgan Stanley COM 617446448 281 9,000 SH   SOLE   0 0 9,000
National Health Invstrs COM 63633d104 14,359 237,497 SH   SOLE   0 0 237,497
National Healthcare COM 635906100 497 8,915 SH   SOLE   0 0 8,915
Newmont Mining Corp COM 651639106 1,560 66,538 SH   SOLE   0 0 66,538
News Corp. Ltd. Cl B COM 65249B208 290 17,395 SH   SOLE   0 0 17,395
Novartis AG COM 66987v109 659 7,750 SH   SOLE   0 0 7,750
Oracle COM 68389x105 2,922 71,429 SH   SOLE   0 0 71,429
Overstock COM 690370101 6,925 351,500 SH   SOLE   0 0 351,500
Pall Corp. COM 696429307 14,315 160,000 SH   SOLE   0 0 160,000
People's United Financial COM 712704105 16,770 1,127,769 SH   SOLE   0 0 1,127,769
PepsiCo Inc. COM 713448108 2,286 27,377 SH   SOLE   0 0 27,377
Pfizer Inc. COM 717081103 3,354 104,421 SH   SOLE   0 0 104,421
Philip Morris Intl COM 718172109 6,631 80,990 SH   SOLE   0 0 80,990
Pico Holdings COM 693366205 676 26,000 SH   SOLE   0 0 26,000
Pinnacle Financial Partners COM 72346q104 237 6,325 SH   SOLE   0 0 6,325
Proassurance Corp COM 74267C106 1,236 27,750 SH   SOLE   0 0 27,750
Procter & Gamble Co. COM 742718109 11,886 147,463 SH   SOLE   0 0 147,463
Regions Financial Corp. COM 7591ep100 796 71,631 SH   SOLE   0 0 71,631
Republic Services Inc. COM 760759100 5,089 148,983 SH   SOLE   0 0 148,983
Roche Holdings COM 771195104 3,079 82,102 SH   SOLE   0 0 82,102
Royal Dutch Shell Class B COM 780259107 2,516 32,210 SH   SOLE   0 0 32,210
Russell 2000 Index Fund COM 464287655 239 2,053 SH   SOLE   0 0 2,053
SPDR Utilities Select COM 81369Y886 1,480 35,698 SH   SOLE   0 0 35,698
Schlumberger Ltd. COM 806857108 12,431 127,495 SH   SOLE   0 0 127,495
Scripps Networks Interactive, COM 811065101 2,330 30,700 SH   SOLE   0 0 30,700
Select Basic Materials Sector COM 81369y100 1,777 37,591 SH   SOLE   0 0 37,591
Sigma Aldrich Corp. COM 826552101 374 4,000 SH   SOLE   0 0 4,000
Starbucks Corp. COM 855244109 502 6,835 SH   SOLE   0 0 6,835
SunTrust Banks Inc. COM 867914103 1,022 25,696 SH   SOLE   0 0 25,696
Syntroleum COM 871630208 268 68,247 SH   SOLE   0 0 68,247
Sysco Corp. COM 871829107 6,880 190,420 SH   SOLE   0 0 190,420
TJX Companies, Inc. COM 872540109 867 14,293 SH   SOLE   0 0 14,293
Target Corporation COM 87612e106 1,295 21,396 SH   SOLE   0 0 21,396
Tejon Ranch Co. COM 879080109 372 11,000 SH   SOLE   0 0 11,000
Tidewater Inc. COM 886423102 6,982 143,609 SH   SOLE   0 0 143,609
Travelers Inc. COM 89417e109 959 11,269 SH   SOLE   0 0 11,269
Twenty-First Cent Fox Inc. Cl COM 90130a101 1,964 61,420 SH   SOLE   0 0 61,420
Twenty-First Cent Fox Inc. Cl COM 90130a200 3,130 100,563 SH   SOLE   0 0 100,563
US Bancorp COM 902973304 601 14,025 SH   SOLE   0 0 14,025
United Parcel Svc. Cl B COM 911312106 5,605 57,556 SH   SOLE   0 0 57,556
United Technologies COM 913017109 9,687 82,911 SH   SOLE   0 0 82,911
Vanguard Emerging Markets ETF COM 922042858 1,882 46,366 SH   SOLE   0 0 46,366
Vanguard Large-Cap Exchanged T COM 922908637 479 5,565 SH   SOLE   0 0 5,565
Vanguard Mid-Cap Exchange Trad COM 922908629 264 2,325 SH   SOLE   0 0 2,325
Vanguard Small-Cap VIPERs COM 922908751 421 3,725 SH   SOLE   0 0 3,725
Verizon Comm. COM 92343v104 6,822 143,417 SH   SOLE   0 0 143,417
Vodafone Group PLC ADS COM 92857w308 5,425 147,383 SH   SOLE   0 0 147,383
Vulcan Materials COM 929160109 857 12,900 SH   SOLE   0 0 12,900
Wal-Mart Stores Inc. COM 931142103 8,469 110,811 SH   SOLE   0 0 110,811
Walt Disney Co. COM 254687106 8,908 111,250 SH   SOLE   0 0 111,250
Wells Fargo & Co. COM 949746101 3,074 61,798 SH   SOLE   0 0 61,798
Western Union COM 959802109 734 44,837 SH   SOLE   0 0 44,837
White Mountain Ins COM G9618E107 2,945 4,909 SH   SOLE   0 0 4,909
Yamana Gold COM 98462Y100 660 75,143 SH   SOLE   0 0 75,143
Zoetis, Inc. COM 98978v103 899 31,057 SH   SOLE   0 0 31,057
iShares DJ Select Dividend Ind COM 464287168 237 3,230 SH   SOLE   0 0 3,230
iShares FTSE China 25 Index Fu COM 464287184 2,309 64,525 SH   SOLE   0 0 64,525
iShares MSCI EAFE Index Fund COM 464287465 255 3,796 SH   SOLE   0 0 3,796
iShares MSCI Emerging Markets COM 464287234 1,579 38,496 SH   SOLE   0 0 38,496
iShares MSCI Pacific Rim COM 464286665 1,757 36,546 SH   SOLE   0 0 36,546
iShares Russell 1000 Index ETF COM 464287622 476 4,540 SH   SOLE   0 0 4,540
iShares Russell Mid-Cap Index COM 464287499 248 1,605 SH   SOLE   0 0 1,605
iShares S&P 500 Core Index ETF COM 464287200 372 1,975 SH   SOLE   0 0 1,975
iShares S&P SmallCap 600 Index COM 464287804 3,254 29,540 SH   SOLE   0 0 29,540
Natl Healthcare Cv Prf PFD CV 635906209 420 28,533 SH   SOLE   0 0 28,533